They didn’t get there on just computers like their name says….
They ARE there on their phones, watches , services and yea computer’s….
And will keep growing because by the time this pandemic is over?
Almost every kid/student in America will have a school supplied iPad for on-line learning….
It took Apple 42 years to reach $1 trillion in value. It took it just two more years to get to $2 trillion.
On Wednesday, Apple became the first U.S. company to hit a $2 trillion valuation when its shares climbed 1.4 percent to $468.65 in midday trading, though they later declined and ended the day flat. It was another milestone for the maker of iPhones, Mac computers and Apple Watches, cementing its title as the world’s most valuable public company and punctuating how the pandemic has been a bonanza for the tech giants.
As recently as mid-March, Apple’s value was under $1 trillion after the stock market plunged over fears of the coronavirus. On March 23, the stock market’s nadir this year, the Federal Reserve announced aggressive new measures to calm investors. Since then, the stock market — and particularly the stocks of Apple, Microsoft, Amazon, Alphabet and Facebook — has largely soared, with the S&P 500 hitting a new high on Tuesday.
Investors have poured billions of dollars into the tech behemoths, betting that their immense size and power would serve as refuges from the pandemic-induced recession. Together, those five companies’ value has swelled by almost $3 trillion since March 23, nearly the same growth as the S&P 500’s next 50 most valuable companies combined, including Berkshire Hathaway, Walmart and Disney, according to S&P Global, the market analytics firm. Apple’s valuation alone rose by about $6.8 billion a day, more than the value of American Airlines.
“It’s become the new flight to safety,” Aswath Damodaran, a New York University finance professor who studies the stock market, said of investors flocking to Big Tech. Companies that are rich, flexible and digital are benefiting in the pandemic — and that describes the tech Goliaths, he said, adding, “This crisis has strengthened what was already a strong hand.”